Tower Semiconductor: 4Q Earnings Snapshot

Tower Semiconductor: 4Q Earnings Snapshot

Associated Press

MIGDAL HAEMEK, Israel (AP) _ Tower Semiconductor Ltd. (TSEM) on Tuesday reported fourth-quarter net income of $38.1 million.

The Migdal Haemek, Israel-based company said it had profit of 36 cents per share. Earnings, adjusted for non-recurring costs, came to 41 cents per share.

The chipmaker posted revenue of $333.6 million in the period.

For the year, the company reported profit of $135.6 million, or $1.32 per share. Revenue was reported as $1.3 billion.

Tower Semiconductor shares have risen roughly 10 percent since the beginning of the year. The stock has fallen 51 percent in the last 12 months.

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